ISLAMABAD ( WNAM REPORT): Chairman of the Foreign Delegation Committee of the Islamabad Estate Agents Association, Chaudhry Mazhar, stated that a further reduction in taxes related to the real estate sector is the need of the hour, as this sector not only promotes investment but also serves as a major source of livelihood for millions of people and supports dozens of industries.
He said that whenever real estate and construction activities increase, business activity also accelerates in sectors such as cement, steel, tiles, electrical equipment, paint, timber, furniture, transportation, and many other related industries, thereby strengthening overall economic growth.
Chaudhry Mazhar noted that the construction and housing sectors in Pakistan play a significant role in the country’s GDP and employment, while the growing population and increasing demand for housing in urban areas further enhance the importance of this sector.
He added that investment in real estate not only leads to the development of new housing schemes and commercial projects but also generates substantial revenue for the government through various taxes and fees.
